
Apple Inc joined the Dow Jones Industrial Average on Thursday, dislodging aging telecoms icon AT&T from the 30 companieslisted in Wall Street's blue-chip index.
Apple's extremely high stock valuation had kept it out of the Dowindustrials, until a seven-for-one stock split that brought the shareprice closer to the dow.
Credit card company Visa's own four-for-one stock split, carried outThursday, required revisions to the index's weighting, opening anopportunity to replace AT&T with Apple.
'As the largest corporation in the world and a leader in technology,Apple is the clear choice for the Dow Jones Industrial Average,' saidDavid Blitzer, managing director of S&P Dow Jones Indices.
Around 2 pm (1800 GMT) Thursday, the Dow Jones Industrial Average wasat 17,953.86, down 0.68 per cent from Wednesday's closing mark of18,072.58.
Apple was off about 0.54 per cent in Thursday trading at 127.77dollars a share.
Visa, whose global retail electronic payments network makes it asmuch a technology firm as a financial giant, is itself a relativenewcomer to the Dow industrials, having been included in September2013 in a larger revision that also brought in bank Goldman Sachs andsports branding titan Nike.
Launched in 1896 by Wall Street pioneer Charles Dow as a 12-stockbarometer of industrial listings, the average was expanded in 1916 to20 stocks.
The index has contained 30 stocks since 1928.
GMT 19:47 2018 Saturday ,06 January
Global stocks extend rally; London hits record peakGMT 19:22 2018 Wednesday ,03 January
Worldwide stocks start year on a highGMT 10:37 2018 Wednesday ,03 January
Asian markets build on gains, dollar faces further weaknessGMT 17:30 2017 Sunday ,31 December
London stocks end year on record highGMT 18:04 2017 Thursday ,28 December
Miners boost stocks in thin holiday tradingGMT 18:51 2017 Monday ,25 December
Oman’s share index falls on lack of buying supportGMT 08:49 2017 Sunday ,24 December
'Virtual gold' may glitter, but mining it can be really dirtyGMT 17:45 2017 Saturday ,23 December
Madrid stocks sink on Catalan woes; London hits record
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor